Trump mansion closes for $95 million to Russian tycoon

Monday

Donald Trump closed the deal Tuesday on his record sale of 515 N. County Road, the former Abe Gosman estate, to Russian fertilizer mogul Dmitry Rybolovlev.

The sale of the 6-acre estate was announced in May.

Although Trump calls it a $100 million deal, the deed lists the sale price as $95 million. Trump, in a call from his office in New York, said the higher figure includes closing costs. The documentary stamps for the deed came to $665,000.

The slightly shaved price still sets the record for a Palm Beach property and is likely a U.S. record for a single-family home. It demolishes the recent Palm Beach record: $81.5 million in April for 1236 S. Ocean Blvd.

Trump said he was not sure whether reports Rybolovlev bought the property as an investment, rather than a personal home, are true. "I really don't know for what purpose,"Trump said. "I'd imagine it'd be for a home but I don't know, other than I know he made a great deal. I think time will prove that out."

The real estate developer and reality TV star said reports that he spent $25 million to renovate the mansion are false. Construction permits issued since he bought the property in 2004 have a listed value of $502,470, according to Jackie Kervey, records manager for the Town of Palm Beach.

"I always looked at it as a teardown," Trump said.

In any event, Trump said, the size of the sale is positive news for Palm Beach. "It's good because of the times," he said in reference to the nation's economic downturn.